USDJPY

The USDJPY pair regained positive traction on Wednesday and has now moved within striking distance of monthly tops, set last Friday. Any subsequent up-move is likely to confront some fresh supply near the key 110.00 psychological mark, above which the pair is likely to head towards testing the 110.25-30 horizontal resistance. On the flip side, the 109.35-25 region now seems to protect the immediate downside and is closely followed by the 109.15 handle.

USDJPY-23-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.55 108.85 109.11 109.40 109.66 109.95 110.21
WEEKLY 106.64 107.31 108.55 109.22 110.46 111.13 112.37
MONTHLY 103.83 106.69 108.14 111.00 112.45 115.31 116.76

EURUSD

The Euro is trading little changed on the upside at around 1.1360 as the Bank of Japan downgraded its inflation forecast citing overseas risks building up, while trade talks development weighs on sentiment. The 4hour chart shows that the pair continues trading in the downtrend channel that formed last week. The recent stagnation pushed EURUSD closer to the upper end of the channel and it may now fall towards the lower end. Support is seen at 1.1355 and below this is 1.1310 level. Resistance is seen at 1.1380 and 1.1400.

EURUSD-23-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1299 1.1317 1.1340 1.1359 1.1382 1.1401 1.1424
WEEKLY 1.1172 1.1262 1.1313 1.1403 1.1454 1.1544 1.1595
MONTHLY 1.1111 1.1189 1.1330 1.1408 1.1549 1.1627 1.1768

GBPUSD

The GBPUSD trades in the mid-1.2900s, holding its ground. A motion to prevent a no-deal Brexit is gaining traction, supporting Sterling. BOE Deputy Governor Broadbent speaks later. The GBPUSD pair resistance is seen at 1.3000 and above here the next level is 1.3075-80. On the flip side, weakness back below the 1.2930 level could further get extended towards the 1.2860-55 area, which is closely followed by support near the 1.2830-25 region.

GBPUSD-23-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2762 1.2809 1.2882 1.2929 1.3002 1.3049 1.3122
WEEKLY 1.2364 1.2517 1.2696 1.2849 1.3028 1.3181 1.3360
MONTHLY 1.2179 1.2328 1.2543 1.2692 1.2907 1.3056 1.3271

GOLD

Gold has completed the ascending correctional structure at 1285.48. Today, the pair may start a new decline towards 1275.25. Later, the market may break this level and continue trading inside the downtrend with the short-term target at 1254.15. Resistance is seen at 1294/95 and 1299 region

Gold-23-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1268.94 1272.47 1277.94 1281.47 1286.94 1290.47 1295.94
WEEKLY 1259.76 1269.93 1276.26 1286.43 1292.76 1302.93 1309.26
MONTHLY 1183.20 1204.90 1243.10 1264.80 1303.00 1324.70 1362.90